Ocean Protocol tanks 70% on Bittrex following IEO conclusion

04 May, 2019 | Updated: 04 May, 2019
by Ryan Boltman
ICOs
Ocean Protocol tanks 70% on Bittrex following IEO conclusion

The latest Initial Exchange offering (IEO) on Bittrex has seen another project tank right off the bat following the market opening for trading on Bittrex.  

IEO investors of Ocean Protocol were not very happy when the project listed on Bittrex and immediately dropped 70% in value.

Ocean Protocol raised over $30 million from both retail and institutional investors, with their seed round held in early 2018. The price per token for IEO investors was $0.12.

Ocean Protocol is a decentralized data exchange protocol that lets people share and monetize data while guaranteeing control, auditability, transparency and compliance to all actors involved. The project had gained a lot of attention in the crypto space and ultimately sold out during the IEO phase.

Investors were shocked when the project tanked down to $0.02 and has settled around $0.04 currently.

Following the second disastrous IEO to list on Bittrex, it is safe to say that users will not be participating in future IEO's on the exchange.

Jelmer van der Dussen wrote3 days agoTradingview credit: {SYMBOLNAME} Chart provided by Tradingview (in Italic) with the link to the right symbolpage under the word 'Tradingview'. Example: BTC/USD Chart by Tradingview (link to BTC/USD Chart) Jelmer van der Dussen wrote3 days ago

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